Tuesday, 10 July 2007

Oil hovers over $76; Iran tension, stocks in focus

(Reuters) - Oil prices were little changed on Wednesday near the previous day's 11-month high, buoyed by fund flows and new Iranian tensions as traders waited to see whether U.S. oil stock data would help extend a two-week rally.

London Brent crude, currently seen as a better indicator of the global market, slipped 11 cents to $76.29 a barrel by 0219 GMT after rising 62 cents on Tuesday. It remained within sight of the record high $78.65 from last August.


Read more at Reuters Africa

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